Berkshire Hathaway Raises Stake in The New York Times as Digital Revenues Grow
The New York Times is producing thousands of original videos each quarter as digital subscription revenues rise 16%. Management expects digital subscriptions to grow 12% to 15%, advertising to increase in the high single- to low double-digit range, and adjusted operating costs to climb 8% to 9% while investing in video and product upgrades. Buffett’s Berkshire is drawing closer investor focus as big tech platforms send less traffic to publishers.